TABR Capital Management LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

TABR Capital Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 21.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,742 shares of the iPhone maker's stock after selling 1,862 shares during the period. Apple comprises 1.6% of TABR Capital Management LLC's portfolio, making the stock its 10th biggest position. TABR Capital Management LLC's holdings in Apple were worth $1,498,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Life Planning Partners Inc bought a new stake in Apple in the 4th quarter valued at approximately $47,000. Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management bought a new stake in Apple in the 4th quarter valued at approximately $65,000. Pillar Financial Advisors LLC bought a new stake in Apple in the 4th quarter valued at approximately $82,000. Finally, Compass Planning Associates Inc bought a new stake in Apple in the 4th quarter valued at approximately $96,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ:AAPL opened at $202.92 on Wednesday. The stock has a fifty day moving average price of $205.58 and a 200-day moving average price of $213.24. The company has a market cap of $3.01 trillion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.14 and a beta of 1.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company earned $1.40 EPS. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. This represents a 22.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. Monness Crespi & Hardt boosted their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Wedbush reiterated an "outperform" rating and set a $270.00 price objective on shares of Apple in a research note on Wednesday, July 30th. Morgan Stanley upped their price objective on Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, TD Cowen dropped their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $237.25.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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